XRP has successfully broken above the key $1.08 resistance level, clearing a barrier that had repeatedly stalled previous recovery attempts and reigniting bullish momentum. According to market analyst Diana, reclaiming $1.08 has significantly strengthened XRP's four-hour chart structure and the token is now attempting to form a higher low followed by a higher high, a classic bullish pattern that often signals the transition from consolidation into a sustained uptrend. XRP is currently trading at $1.11 per CoinCodex data, comfortably above the breakout level, with the breakout potentially paving the way for further gains if bulls maintain control.
XRP has achieved a significant milestone by recording higher trading volume than Bitcoin on Upbit over the past 24 hours. The altcoin generated approximately 113.18 million XRP in trading volume, positioning it as one of the exchange's most actively traded digital assets. This surge in activity has drawn immediate attention across South Korean crypto markets and reflects increasing market participation from both retail and institutional traders. The increased volume could provide the fuel needed for XRP to challenge its next major resistance levels as the breakout gains momentum.
Ripple has significantly increased RLUSD minting activity on the XRP Ledger, with $225.8 million in RLUSD minted across just two days in July. According to on-chain data from XRPL validator Vet, this represents approximately 77% of the total $291.6 million RLUSD minted across both networks, demonstrating Ripple's strategic focus on the XRP Ledger. The minting activity began with 11 million RLUSD issued at 3:41 PM UTC on July 1, followed by smaller transactions ranging from $600K to $995K within a 13-minute window. The largest single mint of $78.85 million at 8:02 PM UTC represents the largest RLUSD issuance since the $200 million minted on May 20.
The next major area under observation sits between $1.145 and $1.15, where immediate selling pressure converges with a major long-term moving average. A decisive move above that range would reinforce bullish momentum and bring the psychological $1.20 level into focus. Beyond $1.20, the $1.29-$1.30 zone remains the most significant hurdle, having repeatedly rejected previous rallies and making it a crucial test for the current breakout. A clean move above $1.30 would confirm renewed strength and could set the stage for a broader upside expansion, with the most important confirmation being XRP's ability to successfully retest and hold the former $1.08 resistance as support during any pullback.
The latest recovery follows a period of prolonged weakness, with XRP's monthly RSI recently reaching its most oversold reading on record. This extreme reading prompted some observers to consider the possibility of a broader trend reversal across the coming sessions. The breakout comes as XRP attempts to recover from one of its weakest long-term stretches in years, with the monthly RSI already at the most oversold level in history. After months of bearish sentiment, traders are closely watching whether the move above $1.08 marks the beginning of a sustained trend reversal, or another rally that fails to gain lasting momentum.
